Barron\'s - 16.09.2019

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“It’s nice to see


our old friend


value back in


the game.”


September 9 through September 13, 2019


Index to Statistics



  • M13


With the S&P 500near an all-


time high, Janney Montgomery Scott’s


Michael Gaugler says a review of industrial


and chemical stocks “appears warranted.”


Gaugler has Buy ratings on Mueller Water


Products, Xylem, Rexnord, and Quaker


Houghton. Mueller, he says, can “ride out


the current volatile economic environ-


ment,” and while Xylem has “a slightly di-


minished outlook, [the] investment thesis


remains favorable.” Rexnord’s valuation is


starting “to reflect strengthened (and


strengthening) financial metrics,” and a


Quaker acquisition means it can cut costs


while “maximizing cross-selling opportuni-


ties.” The stocks have double-digit upsides,


except for Xylem, which he sees rising 7%.


The Trader


Value on Top


Trends reverse and


growth takes a hit. 3


European Trader


L’Oréal Tries


A Makeover


A misstep in the U.S.,


new efforts in China. 6


Emerging Markets


Bond Party May


Be Over for Now


Investors hunt further


afield for returns. 6


The Striking Price


A Bullish Play on


Bank of America


Interest-rate cuts should


provide a lift. 7


Commodities Corner


Emerging Markets


Stock Up on Gold


Russia and China bolster


forex reserves. 9


The Activist Investor


A Wilted Bloomin’


Will Jana seek a sale of


the dining brands? 10


Milton Glaser


Our


Founder


Clarence


Barron

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